Comerica Bank Cuts Stake in Tempus AI, Inc. $TEM

Key Points

• Comerica Bank reduced its stake in Tempus AI, Inc. by 16.6%, selling 18,610 shares and now holds 93,535 shares worth approximately $4.5 million.
• Insider sales included COO Ryan Fukushima and EVP Erik Phelps, who sold 17,460 and 51,317 shares, respectively, contributing to a total insider sale of 1,108,951 shares over the last 90 days.
• Tempus AI reported a positive earnings surprise for Q2 with EPS of ($0.22) against a consensus estimate of ($0.23) and a revenue increase of 89.5% year-over-year, totaling $314.64 million.

Comerica Bank lowered its position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 16.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,535 shares of the company's stock after selling 18,610 shares during the quarter. Comerica Bank owned 0.05% of Tempus AI worth $4,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEM. Vanguard Group Inc. lifted its stake in shares of Tempus AI by 6,247.5% during the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock valued at $289,204,000 after buying an additional 5,900,668 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Tempus AI by 35.9% in the first quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock worth $361,867,000 after acquiring an additional 1,981,755 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in shares of Tempus AI by 31.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after acquiring an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Tempus AI by 31.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after purchasing an additional 1,016,384 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Tempus AI during the 1st quarter valued at approximately $34,119,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

Tempus AI Stock Performance

Shares of Tempus AI stock traded up $2.20 during trading hours on Friday, reaching $75.86. The company's stock had a trading volume of 7,646,161 shares, compared to its average volume of 11,999,090. The firm has a 50 day moving average price of $64.31 and a 200-day moving average price of $59.34. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.43 and a current ratio of 1.54. Tempus AI, Inc. has a one year low of $31.36 and a one year high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $314.64 million during the quarter, compared to analyst estimates of $296.84 million. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%.The company's revenue for the quarter was up 89.5% on a year-over-year basis. During the same period last year, the company earned ($6.86) EPS. Tempus AI has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America lifted their target price on Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Tempus AI in a research note on Friday, August 8th. Morgan Stanley lifted their target price on Tempus AI from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Guggenheim lifted their target price on Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Piper Sandler reissued a "neutral" rating on shares of Tempus AI in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tempus AI currently has an average rating of "Moderate Buy" and a consensus target price of $67.64.

Insiders Place Their Bets

In related news, CEO Eric P. Lefkofsky sold 332,500 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $74.10, for a total value of $24,638,250.00. Following the transaction, the chief executive officer owned 9,207,533 shares of the company's stock, valued at $682,278,195.30. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew Polovin sold 5,398 shares of Tempus AI stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $74.65, for a total transaction of $402,960.70. Following the sale, the executive vice president owned 132,056 shares of the company's stock, valued at $9,857,980.40. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,951 shares of company stock worth $77,660,938. 26.27% of the stock is currently owned by company insiders.

About Tempus AI

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.